The latest vintage of Super Tuscan Ornellaia, the 2019, is out tomorrow (1st April). Ahead of the release, we examine what price would offer relative value compared to its back vintages.
Earlier this month, Antonio Galloni (Vinous) summarised the 2019 vintage in Tuscany. In his report, he noted that it was ‘full of surprises’ as a vintage but had been ‘tricky’ and with some reduced yields in places.
In the report, Galloni awarded Ornellaia 2019 97+ points saying it was, ‘one of the most elegant wines I have ever tasted here’ with ‘fabulous class and pedigree to burn’.
Jane Anson was also positive, with a rating of 98-points. She said the ‘deceptively silky tannins’ hide a ‘more serious Ornellaia’ that would be giving its best ‘after five or six years in bottle, and for several decades’.
Ornellaia’s pricing has a strong correlation with Wine Advocate scores, as the chart below shows. Using Liv-ex’s ‘Fair Value’ methodology, one can approximate the ‘Fair Value’ of the wine by looking at the price implied by the trend line.
That being said, the Wine Advocate’s Italy critic, Monica Larner, is yet to score tomorrow’s release. However, the chart can still be helpful. For example, if Larner were to score the wine 96 or 97-points, an opening price of £1,600 to £1,950 per case (12×75) would keep it below the line.
Depending on the price of tomorrow’s release, buyers looking for other options might want to consider the 2017 and 2016 vintages, which both fall below the trend line.
The Ornellaia Bianco 2019, Le Volte dell’Ornellaia 2020 and Poggio alle Gazze dell’Ornellaia 2020 are also being released.
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Liv-ex analysis is drawn from the world’s most comprehensive database of fine wine prices. The data reflects the real time activity of Liv-ex’s 560+ merchant members from across the globe. Together they represent the largest pool of liquidity in the world – currently £100m of bids and offers across 16,000 wines. Independent data, direct from the market.
